70C-8-102 - Powers of department -- Conformity with federal law -- Reliance on rules -- Consumer education.
70C-8-102. Powers of department -- Conformity with federal law -- Reliance onrules -- Consumer education.
(1) In addition to other powers granted by this title, the department, within the limitationsprovided by law, may:
(a) receive and act on complaints, take action designed to obtain voluntary compliancewith this title, or commence administrative or judicial proceedings on its own initiative;
(b) counsel persons and groups on their rights and duties under this title;
(c) establish programs for the education of consumers with respect to credit practices andproblems;
(d) make studies appropriate to effectuate the purposes and policies of this title and makethe results available to the public;
(e) adopt, amend, and repeal rules to supplement, interpret, or carry out the provisions ofthis title;
(f) maintain offices within this state; and
(g) employ any necessary hearing examiners, clerks, and other employees and agents.
(2) The department may adopt rules that supersede any provisions of this title that are orcome into conflict with the Federal Consumer Credit Protection Act or its implementingRegulation Z if the department:
(a) finds such a conflict to exist; and
(b) declares that the purpose of superseding this title is to resolve that conflict.
(3) Except for refund of an excess charge, no liability is imposed under this title for anact done or omitted in conformity with the rule of the department, notwithstanding that after theact or omission the rule may be amended or repealed or be determined by judicial or othercompetent authority to be invalid for any reason.
(4) A rule or any part of a rule adopted by the department under this title may not bedetermined by any judicial or other authority to be invalid in whole or in part unless such judicialor other authority expressly finds that the rule or part of the rule is arbitrary, capricious, andconstitutes an abuse of discretion, or exceeds the authority granted to the department by this title,or is otherwise unlawful.
(5) The department shall coordinate with representatives of education, government, andthe financial services industry and assist in the preparation of an initiative to develop, implement,and monitor a financial services education curriculum that is:
(a) to be made available to the public; and
(b) appropriate for use in the public schools.
(6) Beginning in 1999, the department shall report biennially by no later than November30 to the Business and Labor Interim Committee regarding:
(a) the need for consumer education programs administered by the department to promoteprudent and beneficial use of credit by consumers; and
(b) department efforts to promote the education of consumers with respect to creditpractices and problems, including:
(i) its efforts to coordinate, encourage, and assist public and private persons in developingand operating voluntary educational and debt counseling programs; and
(ii) its activities under Subsection (5).
Amended by Chapter 65, 2002 General Session